Types of Careers in Finance
Are you looking to score a great career in the financial arena? With everyone trying to, unemployment rate near double figures, prospective job applicants are looking for careers that offer security and the opportunity for advancement. If you want to land that cushy finance job, be sure to select the right major and obtain the proper license.
Here are a few great financial careers that offer long term job growth and competitive salaries.
This is one of the best fields that you probably never paid attention to. You may have seen these careers in movies like About Schmidt and Along Came Polly. Actuaries estimate the likelihood of certain calamities (death, illness, damage) taking place. They are experts in statistical analysis. To become an actuary, you will need a degree in actuarial science and need to pass a certification exam. The average starting salary for an actuary is pretty good at $56, 000. The highest paid actuaries can make well over $160, 000 annually.
The financial advisory field is expected to grow 30% over the next 10 years. Financial advisors provide advice on a number of different money management areas including investing, taxes, retirement planning, debt advice, and estate planning. The average annual salary for a financial advisor is $70, 000. The highest paid financial advisors earn $167, 000 a year and up.
This career may have a bad reputation from the recent financial crisis but it is still a great field to get into. Investment bankers make a ton of dough. The average investment banker makes six figures in salary alone and that doesn’t include bonuses. Investment bankers make bonuses of $300, 000 to $400, 000 easy. Bank of America recently paid its investment banking employees $400, 000 in bonuses this year. Investment bankers may have to work 80 to 90 hour work weeks but it’s not a bad way to make a living.
Financial analysts scrutinize the financial statements of companies to determine the financial health of a company. They pour over balance sheets, income statements, and cash flow statements to assess the value of a company. Management often relies on the opinions of financial analysts in identifying investment opportunities. This field is expected to grow 20% over the next decade. The average salary for a financial analyst is $73, 000 with top earners raking in $140, 000 plus.
Accountants are number crunchers so you have to possess a love for numbers. The accounting profession is expected to grow 22% over the next decade. Accountants operate in many fields including taxes, real estate, forensic, and government. The average salary for an accountant is about $60, 000. If you get your CPA certification than you can earn even more. Certified public accountants can earn over $102, 000 per year.
As you can see picking the right career field can pay off very well. Remember to pick a career field that meshes with your personality and that you will enjoy doing for years to come.
St. Cloud Technical and Community College is a community and technical college in St. Cloud, Minnesota, founded in 1948. Formerly called St. Cloud Technical College and St. Cloud Vocational Technical College (and known as "Vo-Tech"), it is part of the Minnesota State Colleges and Universities system. St. Cloud Technical and Community College...